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Frequent flyer earning drops to 0.5/$1 after spending $2,500/month

X-Factor

Affordable $99/$139 annual fee

Introduction

Boasting an annual fee of just $99 in the first year and an earning rate of one Qantas frequent flyer point per dollar spent, the Woolworths Money Qantas Platinum Visa keeps both points and fees in check to boost your frequent flyer balance without breaking the bank.

Joining that are other perks such as free international travel insurance, which in itself would normally cost hundreds of dollars for an annual policy, representing an immediate saving if your journeys take you abroad.

Sweetening the deal is a 0% balance transfer offer for 14 months following your approval as a new customer: a cost-free way of reducing your debt in that every dollar you repay during that period is a dollar off your credit card balance.

Woolworths Money Qantas Platinum Visa: fast facts

Grade/tier: Platinum

Card type: Visa

Loyalty program: Qantas Frequent Flyer

Qantas Points earned per $1 – everyday spend: 1

Bonus points earned per $1 – eligible Qantas spend: 1

Points shaping: Earns 0.5/$1 on everyday spend after charging $2,500 in one statement period

Fees, charges and interest: 3/5

Annual fee: $99 first year, $139 thereafter

Additional/supplementary cardholder fee: $29

Interest rate on purchases: 20.49% p.a.

Interest-free days on purchases: Up to 55

Interest rate on cash advances: 21.99% p.a.

International transaction fee: 3.0%

Minimum income requirement: $30,000 p.a.

Minimum credit limit: $6,000

Earning points for free flights: 3/5

An easy 10,000 bonus Qantas frequent flyer points are yours when you apply for the card by October 31 2015 and make just once purchase by the year's end.

That's enough for a free return upgrade from flexible economy to business class between Sydney and Melbourne, or a free one-way upgrade between the same cities on Qantas' raft of cheaper economy fares.

Following this and assuming you spend less than $2,500 per month, you'll net a flight from Sydney to Melbourne for every $8,000 charged to the card, plus taxes and surcharges.

Airport lounge access: 0/5

However, you'll receive a $10 discount every time you spend at least $100 on groceries with Woolworths Online: just use the card to pay and enter the promo code 'WOWMONEY'.

Free international travel insurance: 4/5

Free international travel insurance is yours when charging your return overseas travel ticket (being a flight, cruise or other means of transport) to the Woolworths Money card and covers trips of up to 30 days at a time.

Coverage is also provided when redeeming Qantas frequent flyer points earned on the card for international journeys of the same duration.

Woolworths Money Qantas Platinum card: verdict

With a solid earning rate of one Qantas Point per dollar spent up to $2,500 per month, the Woolworths Money Qantas Platinum Visa serves as a great everyday card for everyday Australians and is the cheapest choice in the market for a true one point per $1 earning rate.

It also doubles as a great 'backup' to your American Express card for use where AMEX isn't accepted, allowing you to maximise your points earn on every transaction.

Less-impressive, however, is the drop in frequent flyer earning above that $2,500 monthly threshold.

If your monthly statement usually surpasses this, we'd suggest either the $189/year Bank Australia Platinum Rewards Visa or the $199/year Qantas Credit Union Visa Platinum: both of which serve up one point per dollar without limit.